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Bajaj Finance rallies as PAT jumps 17% YoY to Rs 4,247 crore in Q3 FY25

30-Jan-25 10:02 Hrs IST

The consolidated results of Bajaj Finance include the results of its wholly owned subsidiaries, Bajaj Housing Finance (BHFL), Bajaj Financial Securities (BFinsec), and its associate company, Snapwork Technologies.

Operating expenses rose 23% to Rs 3,868 crore in Q3 FY25 as compared with Rs 3,156 crore posted in the corresponding quarter last year.

Net interest income jumped 23% to Rs 9,382 crore for Q3 FY25 from Rs 7,655 crore in Q3 FY24. Operating expenses to net interest income for Q3 FY25 were 33.1%, as against 33.9% in Q3 FY24.

Loan losses and provisions during the quarter amounted to Rs 2,043 crore (up 63.70% YoY).

Profit before tax in Q3 FY25 stood at Rs 5,765 crore, up 18% from Rs 4,896 crore posted in Q3 FY24.

The number of new loans booked during the quarter grew by 22% to 12.06 million as against 9.86 million in Q3 FY24.

Customer franchise stood at 97.12 million as of 31 December 2024 as compared to 80.41 million as of 31 December 2023, up of 21% YoY. In Q3 FY25, the company recorded the highest ever quarterly increase in its customer franchise of 5.03 million.

The NBFC's consolidated deposits book jumped 19% YoY and stood at Rs 68,797 crore as of 31 December 2024.

Assets under management (AUM) grew by 28% to Rs 3,98,043 crore as of 31 December 2024 from Rs 3,10,968 crore as of 31 December 2023. AUM grew by 24,119 crore in Q3 FY25.

On the asset quality front, gross NPA and net NPA as of 31 December 2024 stood at 1.12% and 0.48%, respectively, as against 0.95% and 0.37% as of 31 December 2023. The company has a provisioning coverage ratio of 57% on stage 3 assets as of 31 December 2024.

The NBFC's annualized return on average assets (ROA) stood at 4.5% in Q3 FY25 as compared with 4.9% reported in Q3 FY24. Return on average equity (ROE) stood at 19.1% in the third quarter of FY25 as compared with 22% posted in Q3 FY24.

Capital adequacy ratio (including Tier-II capital) as of 31 December 2024 was 21.57%. The Tier-I capital was 20.79%.

Meanwhile, the company's board has approved the appointment of Ajay Kumar Choudhary as an independent director of the company for a period of 5 years, effective from 1 February 2025.

Bajaj Finance is one of India's leading and most diversified financial services companies. The company is mainly engaged in the business of lending. BFL has a diversified lending portfolio across retail, SME, and commercial customers with a significant presence.